12.22.09 | Stafford Loan Interest Rates
Stafford loans are known for their low fixed interest rates and flexibility to defer any payments until after graduation. There are two types of Stafford loans; Subsidized Stafford loans and Unsubsidized Stafford loans. Subsidized Stafford loans are need based and interest does not accrue while the borrower is in school. Unsubsidized Stafford loans are not based on financial need, but interest starts accruing as soon as the loan is disbursed. Both types of Stafford loans are available to undergraduate and graduate students.
Interest rates for all Stafford loans are fixed which means that once the loan is disbursed the interest rate will never change. However, rates for new Stafford loans change every year. On July 1st a new set of interest rates go into affect for loans disbursed during the following school year. For example, undergraduate subsidized loans disbursed during the 2009-2010 academic year have an interest rate of 5.6% and undergraduate unsubsidized loans disbursed during the 2009-2010 school year have an interest rate of 6.8%. This will change on July 1st of 2010.
ScholarshipPoints Bonus Code: STAFFORDINTEREST
The Student Loan Help blog is sponsored in part by:
Thank you for the information!
December 29th, 2009 | #
Very useful student loan information!
December 28th, 2009 | #
Thank God i read some good information about loan interest
December 28th, 2009 | #
Thank you for this valuable information. I must admit i always just sign away on things and never take the time to read the fine print.
December 28th, 2009 | #
This is very informative, but as Kentiara said, there are still loop holes with earning loans.
December 28th, 2009 | #
How do I find out if I qualify for subsidized stafford loan? Will it be in my financial aid package I receive from the college?
December 28th, 2009 | #
Very informative & helpful!
December 27th, 2009 | #
No matter how useful it is, it’s still a loan after all. You borrowed the money; you got to give it back as soon as possible.
December 27th, 2009 | #
Good to know. Thanks
December 27th, 2009 | #
Well that’s good to know.
December 27th, 2009 | #
informative
December 27th, 2009 | #
This was very informative and helpful to me and my family.
December 27th, 2009 | #
i agree that we increase the interest to 7 percent as well. but very informative
December 27th, 2009 | #
This is very interesting.
December 26th, 2009 | #
wow, this is help information
December 26th, 2009 | #
Good to know.
December 26th, 2009 | #
this is very interesting artical.
December 26th, 2009 | #
this is very interesting artical.and i enjoy reading.
December 26th, 2009 | #
wow this is perfect i dint not know before but i enjoy that.
December 26th, 2009 | #
It is good news to students who are on Stafford loans; although the Unsubsidized loan remains fixed at 6.8%, the Subsidized portion will be lower for these two (up coming) academic years. Isn’t that something?
December 26th, 2009 | #
This article gave me great information student loans and now I will pay closer attention to loans.
December 26th, 2009 | #
I am excited to hear about the new intrest rates as well. It is a lot better to pay less intrest on school loans so that I can give more to my children.
December 26th, 2009 | #
Yeah, these are the loans I have alright…
December 25th, 2009 | #
great article
December 25th, 2009 | #
I now finally understand the interest between subsidised and unsubsidised loans. Very helpful1
December 25th, 2009 | #
This was very helpful, now I know a lot more
December 25th, 2009 | #
Good information on student loans
December 25th, 2009 | #
This is some intriguing info, I must say.
December 25th, 2009 | #
very good source of information
December 24th, 2009 | #
good info!
December 24th, 2009 | #
Gave me just the information i was looking for on these types of studen loans!
December 24th, 2009 | #
that good info
December 24th, 2009 | #
sounds informative
December 24th, 2009 | #
This is really interesting.
December 24th, 2009 | #
i’m trying to stray away from any loans at all
December 24th, 2009 | #
More interesting than I expected
December 24th, 2009 | #
helpful
December 23rd, 2009 | #
Good Info!
December 23rd, 2009 | #
indubitably useful
December 23rd, 2009 | #
this is interesting yet there is still loop holes that one have to go through to get the loan. however thank you.
December 23rd, 2009 | #
the student loan information was so helpful!
December 23rd, 2009 | #
I think the stafford loan is good for people with ambitions to receive any undergraduate degrees because they can easily be paid back with employment…
December 23rd, 2009 | #
Thank you for the information, I have alwayd just signed away and never took the time to read what I was signing. Thanks
December 23rd, 2009 | #
The interest is good
December 22nd, 2009 | #
thanks for the information. The interest is good, but do not think it a good choice if interest increases to 7%
December 22nd, 2009 | #
VERY INFORMATIVE
December 22nd, 2009 | #
This article gave me more information on student loans!!
December 22nd, 2009 | #